Mortgage rates ‘days away from wholesale increases’
Raphael Afesomu2nd August, 2026 | News
UK mortgage rates could be heading higher after government borrowing costs reached their highest level since the 2008 financial crisis, raising concerns for homeowners and prospective buyers.
Meanwhile, millions more workers could be caught in the UK’s £100,000 “tax trap” by 2031 if income-tax thresholds remain frozen. Analysis suggests 2.5 million additional people could be affected, while a campaign is also calling for 90 minutes of free parking to support struggling high streets.
The FCA’s £9.1bn car finance compensation scheme also remains on hold amid legal challenges, with consumer groups arguing that motorists may not receive fair compensation.
